How do I apply to Celsius Network?

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You will use their Corporate Onboarding Page: https://onboarding.celsius.network/application/

Never use standard customer onboarding to open an account. Failure to title cryptocurrency in the name of the IRA can lead to a prohibited transaction.

After submitting an application ALL questions should be sent to support@celsius.network. Keep in mind applications will take at least one to two weeks and could have significant delays during crypto highs and interest. Submitting documents and then submitting additional documents will keep your application moving. Due to the explosion of Celsius Network's business, you will need to wait during these times, and Rocket Dollar support or sales will not be able to assist your application or speed.

 

If you have advanced crypto questions

Review two of our advanced webinars here on crypto and crypto taxes, or email info@rocketdollar.com to reach our sales/partnerships team. Complex crypto questions can bog down our support from important daily duties. Rocket Dollar cannot give tax advice.

 

IRA Application

 

Company information

  1. Legal Name of Entity - Your Rocket Dollar LLC Name (FLAST RD LLC or custom)/Solo 401(k) put your plan name

  2. Doing Business As (DBA) - ignore

  3. Website Address (if relevant) - ignore

  4. Entity's Firm Type (LLC, LTD, PLC, IRA, etc) - LLC for IRAs/Trust for Solo 401(k)s

  5. Please provide a detailed description of your entity's business activities... “I will use this for IRA LLC/Solo 401(k) Trust investments. All crypto assets and cryptocurrency is owned by my IRA’s LLC and the IRA./Solo 401(k) Trust

  6. Country of incorporation, formation, or organization - United States

  7. State of Incorporation - Colorado/ Solo 401(k) Leave blank

  8. Registered Address - Address used at Rocket Dollar signup, usually a home address

  9. Physical Location Address (if different than above) - Fill out accurately. Your Colorado LLC cannot change your location if Celsius does not serve your state

  10. Jurisdiction of tax residency (if different from the country of incorporation etc. stated above) - United States

  11. Tax Identification Number - For U.S. entities: TIN or EIN; For non-U.S. entities: TIN. If the jurisdiction does not issue TINs – please explain and provide a registration number. EIN of your IRA Custodian. If Solera National Bank use #84-4416888, if not Solera click here. Solo 401(k)s should list their own EIN number in your documents section on app.rocketdollar.com

  12. Does the company have any pending litigation, disputed accounts, or other unresolved matters in any country or territory? - Usually no, but answer truthfully

  13. If yes, please provide a description: blank

  14. Is your entity regulated or licensed by any authority? If yes, please elaborate no

  15. Please provide all company directors (if any new directors please provide their ID and proof of address) -  Provide your own details as you are the manager of the LLC/You are the trustee of your Solo 401(k)

  16. List of Beneficiaries - List your beneficiaries. Be prepared to provide identification and proof of address

  17. Primary Account Manager for the Celsius account- Be careful to pick an email that is not the same as your personal Celsius account address. Consider creating an email address that is named after your IRA LLC Account.

 

Personal Information

  1. Fill out your personal info here. You are putting your LLC info in the entity section above, but almost all financial organizations will do KYC (Know Your Customer) compliance on you as an individual person that manages/trustees the IRA LLC or Solo 401(k) entity.

  2. You are the authorized contact. Rocket Dollar will never sign on investments or documents for IRA LLC customers or Solo 401(k) Trusts

 

Celsius Services:

  1. Describe the source of your funds you are placing in Celsius Network - Answer if you will be buying directly from Celsius, or will buy at another crypto exchange in the name of your IRA LLC and then move crypto to Celsius.

    Moving cryptocurrency from one location to another clearly in the name of your LLC is acceptable. You can explore any crypto exchange that takes an LLC. Use extreme caution and consider all tax implications when moving crypto through hot or cold wallets according to prohibited transaction rules. Here is a webinar Rocket Dollar did on the subject.

  2. What was the approximate total USD value of the Entity's digital asset transactions in the previous year? - Answer Truthfully

  3. What Celsius service are you interested in? Answer withCelsius Earn.” Using Celsius Borrow can have a significant impact on your tax filing complexity and taxes paid. UBIT tax will have to be paid on all IRAs taking out non-recourse loans inside your IRA. Taking a loan in an IRA on crypto before understanding UBIT taxes is ill-advised. More on UBIT here. Solo 401(k)s are exempt from UDFI, the most common impact of UBIT that is triggered by loans and debt.

  4. What is the estimated value of assets you wish to lend, deposit or borrow with Celsius? - Answer truthfully according to the assets you wish to use with your retirement account.

 

Required Documents: 

  1. Certificate of Incorporation - Login on app.rocketdollar.com/login and pull your articles of incorporation/401(k) Adoption Agreement and Basic Plan Document

  2. Copy of Articles of Association - skip

  3. Proof of address of the company - Take a screenshot from the Colorado LLC lookup after searching for your LLC’s name.

  4. Confirmation of regulatory status - skip

  5. Board-approved list of authorized users - skip unless you have family members who are authorized contacts on the account and you trust with your IRA cryptocurrencies. Remember cryptocurrency security is extremely important, and only share access with the most trusted contacts. Prohibited transaction rules mean you can never commingle prohibited person's accounts in the same Celsius account.

  6. Certified proof of Identity of all directors, beneficiaries, and primary account holders. - Provide identification documents, such as a US driver's license or passport.

  7. Certified proof of Residency/Address of all directors, beneficiaries, and primary account holders. Provide proof of address

Additional Document Requests

Celsius can often ask for additional documents. A lot of these might be related to corporate governance (such as board members, officers, or shareholders) that onboarding is used to working with. You will have to be insistent that this is a "Single Member IRA LLC, and has no other users, officers, or owners of the corporations other than my IRA." Rocket Dollar is working with representatives at Celsius to make this process smoother in the future.

Ownership structure

Joe Smith IRA > Colorado LLC 100% owned by the IRA > Fiat Bank Account at Solera Bank, where fiat dollars will fund the account. It is my IRA and I am the manager of my LLC."

If you need a diagram, you can attach the diagrams from this article.

Additional Responses

  • Shareholders Register - the LLC is a single-member LLC inside of the IRA. There are no shareholders, the 100% owner is my IRA at Rocket Dollar and their custody partner Solera Bank. The sole purpose of the Colorado LLC is to hold my IRA investments. I will be funding the account with cryptocurrency bought by my IRA at the XXXXXXX cryptocurrency exchange.

  • Director Register - I am the manager of the LLC as I will be handling my own IRA investments and all crypto trades. There is no Director's Register and there will never be any other directors, managers, board members of the Colorado LLC corporation.

  • Authorized Representative List - I will be the only user, trader, and investor using my Rocket Dollar IRA (and Colorado LLC that goes with it) There will never be any other authorized users other than myself.



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